EnergyWatch

Lundin quadruples profits in the first quarter

The oil company has seen a roaring start to 2018, where both revenue and not just least profits, have skyrocketed. This is partly due to a higher oil price but also to foreign exchange rate gains.

Lund Petroleum emerged from the first quarter with a significant boost relative to the same period the year prior.

The company saw revenue rise to USD 692.9 million against USD 421.5 million in the same period of 2017. The operating result, EBITDA, increased by USD 100 million to USD 456.5 million.

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